Phil Knight has just donated $1 billion of Nike’s shares to an unnamed charity.
According to Bloomberg, the exact organization that will benefit from the 80-year old co-founder’s generous donation is unlisted, but Knight and his wife Penelope are both directors. The $1 billion offering equates to 12 million shares of the global sportswear company and was made last Wednesday.
This is not the first time we have seen The Shoe Dog flex his philanthropic muscles.
Back in 2014 , he and his wife donated $1 billion to various endeavors at his alma mater, the University of Oregon.
Knight’s net worth as of this year is estimated to be around $33.8 billion, according to Forbes, meaning that the donation accounts for only 3.1 percent of his fortune. In other news, the co-founder of the Swoosh is currently having his best selling memoir Shoe Dog adapted into a Netflix film.
Nike has not responded to Sole Collector’s request for comment at this time.